Bowdoin Alumni Secure $10 Million in Funding for EverFi Venture

A web-based software company, Bowdoin College alumni Ray Martinez, Jon Chapman and Tom Davidson has recently received funding of $10 million to assist them in their goals of teaching adults the art of managing their money. Ray, Jon and Tom are all Bowdoin College alum The funds were donated by some of the top ranked venture capital firms and CEO’s, including Evan Williams, the founder of Twitter and jeff Bezos, the founder and CEO of Amazon, among others.

Learning Lifeskills with EverFi

At this moment, EverFi is expanding at an incredible rate, and it currently boasts having more than 4 million certified students under its belt. The aim of the company is to teach life skills through a gaming and education platform and these include; digital and financial literacy, cyberbullying and sexual assault awareness, student loan management, online safety, and even the prevention of alcohol abuse. As the platform begins to grow, there will be many more elements added to these teachings, allowing students the opportunity to learn even more from the time that they spend online.

Financing Schools and Students

In order to assist schools and students in being able to afford to provide and receive an education, the company has also been networking with fortune 500 companies (around 750 of them, in fact) to begin creating an efficient and innovative system of financing. This new system aims to cover 100% of the costs of tuition to universities and students, allowing both parties to gain from the financing option. Some of the partners of this venture include; Neustar, Burger King, Capital One, BBVA Compass, U.S Bank, Genworth Financial, the John Calipari Family Foundation and Pepsico.

Tackling Critical Issues

The CEO of EverFi, Davidson, recently stated that “these are critical issues that put enormous pressure on students and families, and the validation from these investors speaks to that importance”. In a time when the economy is not what it was once, the fact that the business community have come together to assist those seeking out an education speaks highly of their own commitment to the future of the nation. Davidson also commented on the fact that, “Our new investors have collectively built some of the most powerful networks in the world, and that experience will be extremely helpful as we build ours. If we succeed, we can quite literally change the trajectory of the lives of millions of students. It’s important that we do.”

With education being such an important facet of the well being of a nation, investing in the future of prospective and current students is one of the best ways to secure a stable and positive future for the country, and this is something that many innovative leaders take very seriously. While it remains to be seen just how many students are going to be benefiting from this new financing plan, one thing is certain; it is most definitely set to change many lives when the plans are put in motion and prospective students can begin benefiting from it when they make the decision to begin enhancing their education.